SINGAPORE-based global ocean transport company AAL Shipping and Hyundai Merchant Marine (HMM) have teamed up to launch a multi-purpose service between Asia and the Middle East.
The joint Far East-Middle East service will operate on a bi-monthly rotation, deploying five multi-purpose vessels. The service connects China, Korea, Japan, Indonesia and Singapore to the Middle East via the Persian Gulf and Red Sea, American Shipper reported.
"By pooling our resources with HMM, we can each offer more comprehensive service portfolios with improved frequency, capacity, coverage and economies of scale for our customers," AAL chartering and operations director Namir Khanbabi said.
"There will be no collaboration on pricing and we will each pursue bookings under our own respective brands, with separate commercial teams and bills of lading."
Mr Khanbabi added that the goal is to expand the service capacity to six vessels by 2019.
GROUND handler Swissport has secured a EUR325 million (US$406.69 million) financing commitment from Barclays to help the company acquire Aerocare, the largest handler in Australia and New Zealand. The deal is expected to close by March 7.
Swissport has also received a EUR52 million partial loan repayment from its parent, China's HNA Group, reported London's Air Cargo News.
A statement from the handler said: "The intention is for Swissport to partially refinance an affiliate loan to a subsidiary of the HNA Group with a maturity of May 7, 2018 in an amount no greater than the balance of the current affiliate loan, which is maturing on February 6."
Commenting on its funding from Barclays, Swissport explained that it had secured incremental term-loan B acquisition financing commitment from Barclays as the exclusive and sole underwriter and arranger in the amount of EUR325 million, to be "drawn on or shortly before completion of the acquisition."
Swissport last week announced plans for an initial public offering (IPO) in the second quarter and listing of its shares on the SIX Swiss Exchange.
It added: "The IPO will position Swissport for future growth with a diversified public shareholder base and significantly reduced leverage. The company is currently finalising the appointment of the global coordinators for the IPO."
THE French ports of Strasbourg (PAS) and Le Havre (HAROPA) have signed a cooperation agreement in rail, river and sea transport as well innovation and promotional activities.
Within the rail sector, PAS and HAROPA aim to create a scheduled and high-performance rail services to aid in diversifying regional seaports and facilitate cargo export by Rhine companies.
The port will seek to reduce congestion from mega containerships, which HAROPA has agreed to alleviate via rail services towards the east.
The two ports pledged to focus on the challenges to further connections to inland waterways, develop new rail services, deploying digital innovation to optimise cargo flows.
The two entities will also connect via HAROPA's EIG (Economic Interest Group), which has encompassed the ports of Le Havre, Rouen and Paris since 2012.
PAS is also developing a new container terminal in Lauterbourg, slated for opening in the summer of 2018.
"Together, we have to play a major part within the trans-European transport network by working on the development of the hinterlands, digitisation and visibility," said HAROPA executive Herve Martel.
"With this partnership we are building a bridge between the Seine corridor and the Rhine valley," said Mr Martel.
Said EIG deputy director Antoine Berbain: "The partnership with Strasbourg will allow for connecting two port systems at the leading edge of innovation, whether it is as regards port governance, environmental policy or logistics."
22 Jan, 2018 - Newcomer SM Line to launch new China-USWC service in May
SOUTH Korea's SM Line plans to launch its second Asia-US west coast service in early May. The announcement comes just days after the fast expanding shipping line's request to collaborate with Hyundai Merchant Marine was turned down.
The new weekly Pacific Northwest service will connect China to Vancouver and Seattle.
"This new service will further enhance our trans-Pacific service coverage and will underline SM Line's commitment to widen our North America presence," the carrier said in a statement.
Operated by six 4,000 TEU vessels, the service will start from the Shenzhen port of Yantian in the first week of May. The port rotation will be: Yantian, Ningbo, Shanghai, Pusan, Vancouver, Seattle, Tokyo, Pusan, Gwangyang, returning to Yantian.
The fledgling shipping line has made significant inroads on the trans-Pacific trades since it began operations in March 2017, reported IHS Media.
Since the carrier's launch it has transported 187,910 TEU and captured 1.6 per cent of the 11.9 million TEU imported through US west coast ports in 2017, according to PIERS, a sister product of JOC.com within IHS Markit.
However, SM Line's growing presence on the trans-Pacific trades was not enough to secure cooperation from HMM, which said earlier this month that it had received SM Line's formal proposal for unconditional co-operation.
HMM is instead believed to be making plans to cooperate with Israel's ZIM Line on US east coast services. HMM currently sends ships of 5,000 TEU from Asia to the US east coast every week.
SM Line has grown its operations so quickly that it will soon offer 10 weekly services: six in the intra-Asia trade, two in the Asia-India trade and two in the Asia-west coast North America trade.
More services will follow as SM Line aims to expand its current 50,000 TEU operated capacity at least four-fold, with new services lined up for the "near future" that will connect Asia to the US east coast, west coast South America, Australia, the Middle East and Red Sea.
THE rising expectations of customers for rapid delivery have resulted in companies scrambling for cargo space leading to soaring airfreight rates.
Companies are shipping more items by plane to meet customers' rising expectations for rapid delivery, prompting a scramble for cargo space that has sent airfreight rates soaring and pushed Amazon.com Inc and others into the airline business.
Global airfreight traffic climbed almost 9 per cent year over year in November, the start of the peak shipping season, and rates for airfreight were up 17 per cent annually for the month, the biggest price increase since the aftermath of the financial crisis, according to cargo data provider WorldACD, The Wall Street Journal reported.
The cause is twofold: As online shoppers come to expect faster home delivery of everything from smartphones to paper towels, passenger jets and dedicated cargo planes are picking up more kinds of cargo traditionally carried by container ships, trains and trucks. At the same time, strong global economic growth also is spurring demand for goods long ferried by air, such as automotive and manufacturing parts.
To meet the rising demand, Amazon is starting its own airline and some air-cargo operators are searching for older, idle jets to convert into freighters.
"You're literally begging and pleading to get on airplanes, leveraging any contact you can," said Neel Jones Shah, global head of airfreight for Flexport Inc, a San Francisco-based firm that helps customers arrange freight shipments online.
However, some analysts caution the pace of growth may slow in 2018, when year-over-year comparisons will be tougher given the market improvements over the past year. Still, growth "will be probably in the 4 per cent to 5 per cent range, because the outlook for industrial activity and trade in 2018 is pretty strong," said Tom Crabtree, regional director of airline market analysis for Boeing Co's commercial airplanes unit.
Demand for new smartphones from Apple Inc and Samsung Electronics Co last year pushed up airfreight costs. Elevated semiconductor shipments, an airfreight mainstay, also have been gobbling up cargo space. And increasingly, manufacturers are loading toys, clothing and other products onto planes to meet shorter delivery windows and leaner retail inventories.
Air-cargo executives expect the crush to increase their industry's share of global shipments beyond its current level of about 2 per cent. Already, air cargo represents about one-third of global goods shipments by value, because pricier, time-sensitive items such as fresh flowers and consumer electronics tend to be sent by air.
Chief executive of air-cargo specialist Air Transport Services Group Inc (ATSG), which flies cargo for DHL Express and Amazon.com Inc, Joe Hete, said: "We expect more profitable growth in 2018 and beyond as airfreight claims a bigger share of overall cargo volume to achieve ever faster e-commerce deliveries."
HUTCHISON Ports BEST Terminal in Barcelona set a new record for throughput this year, handling one million moves - equal to 1.8 million TEU - on December 15. The record-breaking container was loaded on the 13,800 TEU MSC Bettina operated by MSC.
"The new record highlights BEST's value proposition delivering the highest berth efficiency in the Mediterranean and the fastest delivery processes for trucks and trains," Hutchison Ports BEST CEO Guillermo Belcastro was quoted as saying in a report by Seatrade Maritime News of Cochester, UK.
"We will continue to improve the service we provide to our customers through further investments in equipment and technology," he added.
Hutchison Ports BEST is the first semi-automated terminal in the Hutchison Ports Group and the most technologically advanced port development project in Spain.
The port of Barcelona's container volume surged 33 per cent in the first 11 months of the year.
NORTH Carolina's port of Wilmington has become the first southeastern port in the US Department of Agriculture's (USDA) In-Transit Cold Treatment Pilot programme to be granted permission to accept perishable goods that are midway through the two-week refrigeration process and then complete the refrigeration process in the terminal.
Other southeastern ports that participate in the USDA's programme are only allowed to accept goods that have completed the two-week refrigeration process.
Wilmington's reefer imports volumes increased by 18.6 per cent to 495 TEU in the first three quarters of 2017, compared to the same period last year, according to PIERS, a sister product of JOC.com.
Wilmington joined on December 1 the USDA's In-Transit Cold Treatment Pilot programme, which was started in 2013 and allows cargo to enter the participating ports after undergoing a two-week cold treatment process to safeguard against shipments bringing in fruit flies and other pests.
"We have been working hard to get this programme approved," North Carolina Ports executive director Paul Cozza was quoted as saying in a report by IHS Media. "Demand from our customer base is very strong and they wanted to see this capability for Wilmington move forward."
Wilmington has been struggling to recover cargo volumes lost in the collapse of Hanjin Shipping just over a year ago. The port handled 122,619 TEU in the first nine months of this year, representing a decrease of 28.8 per cent year on year.
Commenting on Wilmington's ability for partly refrigerated goods to complete the refrigeration process at the port, North Carolina Ports vice president Hans Bean said it "opens up a totally new dimension for our port and an option for importers to complete treatment after discharge, which is unique in the south and mid-Atlantic and only available at the port of Wilmington at this time".
The port expects the designation to significantly increase the number of direct imports of produce from across the Americas, including blueberries, grapes, apples, pears and citrus.
Port officials said Wilmington has ample refrigerated container capacity, with 300 plugs on terminal and the capability to add more. In addition to Wilmington's reefer capacity, the port is also home to a 101,000-square-foot refrigerated warehouse located on terminal - one of only a few in-port cold storage facilities in the US.
THE Russian government has approved the establishment of a new rail cargo company that will be a direct competitor to Transcontainer, Russia's No 1 intermodal operator.
The new operator is expected to lower container rail rates in Russia 10 to 15 per cent, according to transport analysts.
Rail rates between Russia and China are currently priced between US$5,500 and $8,000 per container.
Transcontainer has dominated the Russian rail cargo market for the past several years. In the first nine months of the year, the company's container cargo traffic rose 17.7 per cent year on year to 1.31 million TEU, reported IHS Media.
Russian railway company RZD owns a controlling stake in Transcontainer. RZD operates 45 container terminals in Russia and 19 in Kazakhstan and has 67,000 containers under its management.
As a result, Transcontainer has been able to operate on most of RZD's rail routes linking China and Russia and has typically been the sole option for rail cargo delivery from the Asia Pacific to Russia.
The new operator will be able to compete with Transcontainer on most Asia-Russia rail routes.
Furthermore, Transcontainer will be sold to private investors no later than April, and the new logistics operator will be established by RZD from the private-sale funds and will function as a separate company.
An RZD spokesman said the company has enough skilled personnel to organise a new, full-scale logistics business, which will include both operator's services and forwarding.
The proposal has received the support of the Russian Federal Anti-Monopoly Service.
07 Dec, 2017 - Japan's trade surplus up 21pc in October, exports up 2pc
A WEAKER yen and healthy growth in China has helped push up Japan's export volumes, resulting in Japan's trade surplus increasing by a seasonally adjusted 21 per cent in October compared with the previous month.
October marked the 24th straight month of trade surplus and demonstrates how external demand has strengthened the economy after several rounds of monetary stimulus by the Bank of Japan weakened the yen, reported London's Financial Times.
Solid exports and robust demand from China suggest net trade will continue to support the economy in the fourth quarter and bolster the outlook for growth.
The figures indicate "its a clear recovery in exports to Asia", Barclays economists Yuichiro Nagai and Yukito Funakubo said in a note, with exports to China "continuing to show strong growth".
In October exports increased two per cent on a seasonally adjusted basis compared to the previous month, while imports were up 1.2 per cent. Compared with 2016, exports were up 14 per cent in value terms in yen, while imports rose 19 per cent, reflecting depreciation of the yen.
In volume terms, exports grew by 3.8 per cent compared to October 2016, while imports were up 3.2 per cent.
By destination, exports to China were up 26 per cent on a year ago, with Japan supplying much of the capital equipment to tool its manufacturing sector.
Exports of semiconductor equipment to China were up 123 per cent year on year to JPY67.6 billion (US$603 million); overall machinery exports increased 45 per cent; and vehicle exports were up 26 per cent.
THE International Maritime Organization (IMO) has emphasised that ships that do not adhere to the upcoming 0.5 per cent sulphur cap on fuel oil may be deemed 'unseaworthy", invalidating charter parties and liability insurance cover.
Speaking at the annual meeting of the European Refining Technology Conference (ERTC) in Athens, IMO technical officer Edmund Hughes stressed that the global reduction from the current 3.5 per cent sulphur limit would "enter into force on January 1 2020 without any delay."
Addressing concerns over the continued availability of heavy fuel oil (HFO) for shipowners that opt for the installation of exhaust gas cleaning systems, known as "scrubbers", Dr Hughes said the bunker industry would "have a part to play in ensuring high sulphur fuel oil continues to be supplied," reported UK's The Loadstar.
The installation cost of a scrubber system for a large containership is estimated to be US$10 million. However, this could be recovered relatively quickly, given the price difference between HFO and low-sulphur fuel oil, which currently stands at $360 and $540 per tonne respectively.
On a slow-steaming 10,000 TEU ship, burning 150 tonnes of fuel oil a day, the daily saving would be $27,000 on current prices, repaying the outlay for the scrubber within a year or so.
However, not everybody is keen to install a scrubber system, such as Hapag-Lloyd's chief executive Rolf Habben Jansen who described scrubber systems as being "very inefficient".
He said Hapag-Lloyd "would not" be installing them on its ships which would from January 2020 either burn low sulphur fuel oil (LSFO) or liquefied natural gas (LNG). Hapag-Lloyd has inherited 17 ultra large container ships from its merger with UASC that were built to be "LNG-ready".
However, they would need to have part of a hold converted to house the gas tanks which could take away 500 TEU of available cargo capacity. Mr Habben Jansen said that a final decision on the shipping line's fuel strategy would be made "within six to nine months".
Indeed, the timing is critical, given that Hapag-Lloyd currently charters-in 99 vessels of its total fleet of 214, meaning that the carrier would need to discuss its "no scrubber" requirement with shipowners that may want to install the technology.
THE two-day seventh Asian Logistics and Maritime Conference (ALMC) to be held November 23-24 at the Hong Kong Convention will spotlight important topics, including the Belt and Road Initiative, e-Commerce and smart logistics.
The event, jointly organised by the Hong Kong Trade Development Council (HKTDC) and the Government of the Hong Kong Special Administrative Region (HKSAR), is expected to attract about 2,000 industry experts from some 20 countries and regions.
Some 70 industry experts and representatives of international brands will speak at the ALMC. Minister of Transport, Thailand, Arkhom Termpittayapaisith, will deliver a keynote speech at the opening session.
HKTDC assistant executive director Stephen Liang said: "As the Belt and Road Initiative is turned from vision to action, and the rapid development of logistic technology is speeding up changes in the global supply chain, there is huge demand for logistics and efficient ocean shipment services in Asia.
"As the largest event of its kind in Asia, the Asian Logistics and Maritime Conference strives to provide the ideal platform for the industry to learn about the latest development and explore business opportunities."
This year's exhibition will feature over 120 exhibitors showcasing supply chain management, logistics, maritime and related services. The E-Commerce Support and Tech Applications zone will debut with a range of fundamental toolkits, such as document management and e-Commerce tools including internet security and real-time tracking system, offering professional and comprehensive services and solutions.
US President Donald Trump's visit to Beijing has resulted in the US winning business agreements from China worth US$250 million and include the sales of US-made chipsets, jet engines and auto parts.
Contract signings are typically a feature of visits to Beijing by foreign head of states and are intended to silence critics of China's "unfair" trade policies.
Many of the contracts signed during a ceremony attended by Mr Trump and Chinese President Xi Jinping appeared to represent purchases Chinese mobile phone makers, airlines and other customers would have made anyway that were saved for signing during Mr Trump's visit, reported London's Independent.
Others signings included a cooperation framework on shale gas and a memorandum of understanding on industrial development.
Mr Trump pledged to change "one-sided and unfair" trade relations with China but said he does not blame Beijing for taking advantage of the US in the past.
The US President said trade between the US and China has not been "very fair" for the US and cited the large trade deficit between the two global powers.
His Chinese counterpart said Beijing believes cooperation between the two countries is the "only correct choice" and that relations between the sides have entered a new historic starting point.
Several corporate CEOs are in Beijing as part of a delegation led by US Commerce Secretary Wilbur Ross.
Some in the US business community have expressed concerns that contract wins could come at the expense of resolving long-standing complaints over market access restrictions in China.
"This shows that we have a strong, vibrant bilateral economic relationship, and yet we still need to focus on levelling the playing field because US companies continue to be disadvantaged doing business in China," said American Chamber of Commerce chairman William Zarit.
THE 2,824-TEU Liberia-flagged TRF Kaya, was struck by an another containership while moored at the Cat Lai Container Terminall in the Dong Nai River in Ho Chi Minh City.
The identity of the containership involved in the collision that took place at 5.00 a.m. on November 2 is not yet known, reported Kiev's Shipping Bulletin.
The 2007-built TRF KAYA, managed by Germany's Reederei F Laeisz GmbH, sustained portside aft damages. Several containers were crushed and one FEU reefer with frozen fish went overboard.
Locals were reported to have attempted to loot the goods which fell from the crushed containers into the river.
30 Oct, 2017 - Increasing number of megaships make N Europe port calls
THE five new mega-ship gantry cranes deployed at the HHLA's Tollerort terminal in Hamburg that handled the 13,400-TEU Cosco Netherlands have far greater capacity than was needed.
More than 7,000 TEU were loaded and discharged from the vessel before it left the port, as part of a test to assess the readiness of the five gantry cranes to handle the 18,000 TEU-plus mega-ships that are rapidly being added to the Asia-North Europe trade, reported IHS Media.
"Processing the Cosco Netherlands was a first test of our new mega-ship gantry cranes," HHLA Container Terminal Tollerort managing director, Thomas Koch, was quoted as saying.
In the first half of 2017, ships with a capacity of 18,000 TEU or more called at Hamburg port 54 times - more than five times the number recorded in the first half of 2015. The number of calls by vessels ranging in size from 14,000 TEU to 17,999 TEU has more than doubled.
New analysis from SeaIntel shows that the total number of weekly services between Asia and Europe has been steadily declining, mainly due to the phase-in of the larger vessels that has brought an element of capacity injection into the trade incommensurate with the demand growth.
SeaIntel looked at the percentage of vessels per week in the trade that were 14,000 TEU in size or above and found that over the past year, the share of mega vessel departures grew from five per cent to 45 per cent.
"From now until 2020 we will see the additional delivery of more than 90 vessels with sizes in excess of 14,000 TEU, and if we focus purely on the vessels sized 18,000 TEU and above, we will see almost a doubling in the numbers," the analyst stated.
With the current orderbook of mega vessels, SeaIntel said by the end of 2020, 88 per cent of the ships on the Asia-Europe trade would be in excess of 14,000 TEU.
More notably, the Asia-Mediterranean trade will by end-2020 be 83 per cent comprised of vessels in excess of 14,000 TEU, and will be entirely unable to absorb more than a small portion of the spillover from the North European trade.
"Looking at the Asia-Europe data specifically, we are already close to the limit of what this trade can reasonably expect to absorb until 2020 in terms of vessel upgrades. Further bouts of mega-vessel ordering in the 18,000-plus TEU category is highly likely to result in excess capacity issues," SeaIntel noted.
The global average call size in the first quarter of 2017 increased by 12.6 per cent year on year to 1,076 containers, according to data supplied to IHS Markit by the world's largest container ship operators.
Ships with capacity larger than 10,000 TEU accounted for 10.7 per cent of port calls in the first quarter, up from 8.5 per cent in the same period the previous year, according to the data, which covers 879 terminals in 500 ports globally.
16 Oct, 2017 - CMA CGM opens 20,000 square metres of warehousing in Lebanon
The CMA CGM group has opened the first logistics storehouse in Lebanon, located in Bekaa Valley in Taanayel.
The move is part of the group's strategy to offer bespoke logistics solutions to their reefer customers in the richest agricultural, commercial and industrial region of Lebanon.
With a total area of 20,000 square metres, the new logistics storehouse can store up to 1,000 empty TEU. The new facility will enable the group to respond to requests for import/export shipments from Lebanon's largest agricultural area, reported the American Journal of Transportation.
This logistics solution also facilitates the recovery of empty containers, thus reducing costs and saving considerable time.
"CMA CGM is constantly innovating its service offerings for the Lebanese market, and the opening of the new Taanayel dry port brings us closer, creating new opportunities to serve our Bekaa clients," said CMA CGM Lebanon general manager Joe Dakkak.
"We have always believed in our country's potential, and this new investment is a true example of our faith in Lebanon's economic development," he said.
Fifty kilometres from Beirut and 124 kilometres from Tripoli, the Taanayel warehouse is at the crossroads of the Lebanese coast and Damascus - one of the most important trade routes in the Middle East.
CMA CGM's Beirut office employs 200 people.
THOUSANDS of factories across China face closure under Beijing's anti-pollution drive. The shuttering of polluting factories is viewed by some in the supply chain sector as a move to push manufacturers of low value goods out of China.
"The sentiment is that these heavy polluters mainly make low value items and China is willing to allow these industries to move out of China and to India, Cambodia, etc," international director and co-chairman of the AmCham Shanghai Supply Chain Committee, Gary Huang, was quoted as saying in a report by IHS Media.
The tough enforcement of regulations enacted in 2013 is being carried out by China's Ministry of Environmental Protection. This action has already shut down thousands of factories in the north of the country. The inspectors have now switched their focus to auditing manufacturers in the southern provinces.
"We understand that Guangzhou will be under review later in the fourth quarter and going into 2018. I suggest [shippers] talk to their suppliers and be vigilant about monitoring this process. And also have a contingency plan," said Mr Huang.
Sources in China report that governmental environmental inspection efforts started to move from northern China to central China in the third week of September. "We believe this will create an impact on Ningbo shipping volumes as there are numerous small manufacturers involved in producing lower end consumer articles of all sorts," a supply chain expert was cited as saying.
He said the factory audits would scrutinise businesses involved in decorative home products, such as Christmas ornaments, as well as manufacturers involved in producing electric circuit boards. Some of the closed north China factories were expected to resume production by mid-October, after China's Golden Week holiday, but there has been little clarity on the issue.
The factory closures are spread across China's main manufacturing areas, from Jilin province in the north to Zhejiang province south of Shanghai, with increasing focus on the giant inland cities of Chongqing and Chengdu. Guangzhou factories are next on the radar of the Ministry of Environmental Protection's crackdown as inspectors begin to turn southwards.
Low value cargo is transported by ocean, and the factory closures were having an impact on container volume being exported from China, according to an APL spokesperson. He said this was particularly apparent for north China exports.
Kuehne + Nagel also said they were "clearly" seeing a decline in container volume being exported from China, particularly in the north of the country.
PAKISTAN's first deep-water container terminal, Hutchison Ports Pakistan, has breached the nation's vessel handling record for the fourth time this year as the terminal operator achieved the milestone, handling 2,683 moves in just over 13 hours on the 8,562-TEU vessel Hyundai Courage.
During the vessel's stay, the terminal achieved a vessel operating rate of 203.4 container moves per hour and a gross crane rate of 32.3. During the call, a total of 3,501 TEU were handled, the Daily Times of Lahore reported.
The terminal operator improved its record of 1,953 moves in just 11 hours, achieved on the 8,562-TEU vessel Hyundai Global. In less than six months, since starting test operations on December 9 2016, Hutchison Ports Pakistan has broken the productivity record four times.
"In terms of our efficiency and productivity, we are now operating as well as any terminal operator around the world does," said CEO Captain Rashid Jamil.
RAPIDLY growing e-commerce along with advancements in logistics is lifting the cargo handling equipment market worldwide, says New York's Goldstein Research.
"Geographically, Asia-Pacific dominates the global cargo handling equipment market with more than 36 per cent share in 2016," said the Goldstein report entitled "Global Cargo Handling Equipment Market Outlook 2024".
More than 90 per cent of goods transported are containerised. Thus, to deal with the huge container traffic advanced cargo handling equipment is needed such as RTG cranes, forklifts and tractors, said its report.
"Marine ports and airports authorities are using rental equipments to ensure greater profitability coupled with implementation of advance technology cargo handling equipments.
"The global cargo handling equipment market accounted for US$62.5 billion in 2015 owing to growing e-commerce business across the world.
"In 2015 global e-commerce business accounted for $1.3 trillion. Global cargo handling equipment market share is projected to reach $89.4 billion by 2024, further; the market is expected to expand at 4.4 per cent from 2016 to 2024," said the report.
Global container port volume reached 700 million TEU in 2015 which is expected to expand with rising e-commerce. Geographically, Asia-Pacific dominates the global cargo handling equipments market with more than 36 per cent share in 2016, it said.
This market report also includes provides competitive outlook ABB Group, Liebherr Group, Kalmar Global, Toyota Industries Corporation, Hyundai Heavy Industries, Seehafen Wismar GmbH, Terex Corporation, JBT Corporation etc.
CHINA's air freight exports grew in July by just eight per cent, down from a first half average of 19 per cent when the country registered double-digit growth every month over that period. On the other hand, import growth remained strong at 21 per cent year on year.
According to WorldACD, the slowdown in China has not impacted the overall air cargo market, which continues to be buoyant when compared to its performance in recent years. High growth from Hong Kong, India, the UK, Singapore and the Netherlands kept the industry healthy, reported London's Loadstar.
Worldwide overall volume grew 11.8 per cent in July year on year, led by Europe (up 14.2 per cent), Middle East and South Asia (MESA), which was up 13.5 per cent, Asia Pacific (up 13 per cent), and South America and Africa stood at 3.6 per and 2.6 per cent respectively. While pharmaceuticals were the fastest-growing sector, up 17.6 per cent, general cargo outpaced other product categories at 12.6 per cent.
In July, worldwide yields registered year-on-year growth of 7.8 per cent in US dollars, with Asia Pacific achieving the best growth at 13.2 per cent.
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